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Sawn timber and wood pulp prices rise in New Zealand
13/01/2010
The rising price of sawn timber in New Zealand has helped to boost commodity prices in the country by 30 per cent compared with last year.
The AMZ Commodity Price Index rose by 2.6 per cent in December 2009, compared with November – rising by a huge 30 per cent on an annual basis. A 40 per cent increase in the price of sawn timber was part of the driving force behind the increase.
The gain in timber prices has come as a result of rising demand in light of the recovery from the recession in countries like China, where expansion and construction is booming.
New Zealand economist Steve Edwards report that the commodity price rise is, “further confirmation that the global economy is on the mend, aluminium and sawn timber prices have both strengthened in nine of the last ten months.”
He added, "these two commodities are closely linked to industrial production. As such, they provide a timely gauge of the pulse of the global economy."
The price of wood pulp also rose last month - by an impressive 4.1 per cent, while the price for logs increased by 2 per cent.
The AMZ Commodity Price Index rose by 2.6 per cent in December 2009, compared with November – rising by a huge 30 per cent on an annual basis. A 40 per cent increase in the price of sawn timber was part of the driving force behind the increase.
The gain in timber prices has come as a result of rising demand in light of the recovery from the recession in countries like China, where expansion and construction is booming.
New Zealand economist Steve Edwards report that the commodity price rise is, “further confirmation that the global economy is on the mend, aluminium and sawn timber prices have both strengthened in nine of the last ten months.”
He added, "these two commodities are closely linked to industrial production. As such, they provide a timely gauge of the pulse of the global economy."
The price of wood pulp also rose last month - by an impressive 4.1 per cent, while the price for logs increased by 2 per cent.
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